RiverPark Advisors LLC trimmed its position in Twitter, Inc. (NYSE:TWTR) by 19.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,945 shares of the social networking company’s stock after selling 63,769 shares during the period. Twitter makes up approximately 2.7% of RiverPark Advisors LLC’s holdings, making the stock its 12th biggest holding. RiverPark Advisors LLC’s holdings in Twitter were worth $16,413,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its holdings in Twitter by 142.1% during the first quarter. Teacher Retirement System of Texas now owns 172,478 shares of the social networking company’s stock worth $10,975,000 after acquiring an additional 101,222 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Twitter by 22.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 348,326 shares of the social networking company’s stock valued at $22,019,000 after purchasing an additional 64,621 shares in the last quarter. NuWave Investment Management LLC acquired a new position in shares of Twitter in the 1st quarter valued at approximately $1,216,000. Jupiter Asset Management Ltd. increased its stake in Twitter by 16.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 188,291 shares of the social networking company’s stock worth $11,979,000 after purchasing an additional 26,878 shares in the last quarter. Finally, Ibex Investors LLC increased its stake in Twitter by 10.5% during the 1st quarter. Ibex Investors LLC now owns 21,000 shares of the social networking company’s stock worth $1,336,000 after purchasing an additional 2,000 shares in the last quarter. 78.21% of the stock is currently owned by institutional investors and hedge funds.
TWTR has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Twitter from $91.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, April 30th. Barclays cut their price target on Twitter from $52.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, April 30th. OTR Global upgraded Twitter from a “negative” rating to a “mixed” rating in a report on Thursday, April 29th. UBS Group dropped their target price on Twitter from $68.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, April 30th. Finally, Mizuho reduced their price target on Twitter from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, April 30th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Twitter has an average rating of “Hold” and an average price target of $68.78.
Twitter (NYSE:TWTR) last announced its earnings results on Thursday, April 29th. The social networking company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Twitter had a negative return on equity of 11.06% and a negative net margin of 23.05%. Equities analysts expect that Twitter, Inc. will post 0.23 earnings per share for the current year.
In other news, insider Vijaya Gadde sold 2,388 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $70.13, for a total transaction of $167,470.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew Derella sold 18,563 shares of Twitter stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $54.06, for a total transaction of $1,003,515.78. The disclosure for this sale can be found here. Insiders have sold 77,636 shares of company stock valued at $4,347,214 in the last three months. Insiders own 2.56% of the company’s stock.
Twitter, Inc operates as a platform for public self-expression and conversation in real time United States, Japan, and internationally. The company offers Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products and services, such as promoted tweets, promoted accounts, and promoted trends, which enable its advertisers to promote their brands, products, and services.
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